Screen-space color bouncing
While working on my Occlusionist plug-in I stumbled across an interesting side-effect of generating ambient occlusion in screen-space: It’s possible to achieve computationally expensive global illumination effects such as color bouncing in the same way!
And what’s best… it comes pretty much for free!

Screen-space color bouncing (right)
The overhead is somewhere around 10-20%, which is totally acceptable when you consider that true 3D global illumination effects generally take much, much longer to render.
Having access to screen-space ambient occlusion plus color bouncing right within After Effects will certainly make for some very interesting effects and opens a whole new world of possibilities!